July 21, 2009 (FinancialWire) — Mortgage funder Freddie Mac’s (NYSE: FRE) board has named Charles E. Haldeman, Jr. as the company’s chief executive officer and has elected him as a director. He will succeed John A. Koskinen, who has been serving as Freddie Mac’s interim CEO since March.

Haldeman was formerly chairman of Putnam Investment Management, the investment advisor for the Putnam Funds, until June 30. He previously served as president and CEO of Putnam Investments.

Freddie Mac said it expects that Haldeman’s employment and board tenure will begin in August 2009, following release of the company’s second quarter financial results.

Koskinen will resume his previous position as non-executive chairman of the board.

McLean, Virginia-based Freddie Mac provides mortgage capital to lenders. The company was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.